United States Steel Corporation Further Enhances Capital Structure

/EIN News/ -- PITTSBURGH, Oct. 02, 2018 (GLOBE NEWSWIRE) -- Today, United States Steel Corporation (NYSE:X) announces the establishment of a new revolving credit facility for United States Steel Košice to further enhance its capital structure.

On September 26th, the Corporation’s wholly owned subsidiary U. S. Steel Košice, (“USSK”), entered into a five-year €460 million revolving credit facility agreement (the “Credit Facility”), replacing the existing €200 million credit facility. This enhanced Credit Facility provides additional liquidity and flexibility in the Corporation’s capital structure with the strong support of USSK’s lenders.

Of the announcement, President and Chief Executive Officer David B. Burritt said, “We are pleased to announce this agreement, which includes both economic and structural enhancements, that improves our liquidity position and financial flexibility.”

Forward Looking Statements:All statements included in this press release, other than historical information or statements of historical fact, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Words such as, but not limited to, "believes," "expects," "anticipates," "estimates," "intends," "plans," "could," "may," "will," "should," and similar expressions are intended to identify forward-looking statements. All forward-looking statements rely on a number of assumptions, estimates and data concerning future results and events and are subject to a number of uncertainties and other factors, many of which are outside the Company’s control that could cause actual results to differ materially from those reflected in such statements. Accordingly, U. S. Steel cautions that the forward-looking statements contained herein are qualified by these and other important factors and uncertainties that could cause results to differ materially from those reflected by such statements. For more information on the potential factors, please review U. S. Steel’s filings with the SEC, including, but not limited to, U. S. Steel’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K.

United States Steel Corporation, headquartered in Pittsburgh, Pa., is a leading integrated steel producer and Fortune 250 company with major operations in the United States and Central Europe. For more information about U. S. Steel, please visit www.ussteel.com.